Global Cardiovascular Health Supplements Market Analysis
GLOBAL CARDIOVASCULAR HEALTH SUPPLEMENTS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)
Global Cardiovascular Health Supplements Market, By Type (Natural Supplements, Synthetic Supplements), By Ingredient (Vitamins & Minerals, Herbs & Botanicals, Omega Fatty Acids, Coenzyme Q10 (CoQ10), Other), By Form (Liquid, Solid), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Global Cardiovascular Health Supplements Market - Regional Insights
North America is expected to be the largest market for cardiovascular health supplements during the forecast period, accounting for over 35.7% of the market share in 2023. North America has established itself as the dominant region in the global cardiovascular health supplements market. The presence of leading supplement manufacturers in the U.S. and Canada has enabled easy availability of a wide variety of supplements. Moreover, the health-conscious population and their increased spending on preventive healthcare has boosted demand for such supplements.
A substantial portion of the cardiovascular health supplements manufactured in the region is also exported to other parts of the world. Many American brands have a strong global consumer base due to successful marketing campaigns highlighting the various health benefits. The pricing of supplements in North America is generally at the higher end as compared to other regions due to heavy investments in product research and development.
Asia Pacific is expected to be the second-largest market for cardiovascular health supplements, accounting for over 25.2% of the market share in 2023. Rapid economic development and rising healthcare expenditures have increased the affordability of supplements. Lifestyle changes associated with urbanization have also contributed to rising prevalence of cardiovascular issues.
Countries like India, China, and Japan have abundant agricultural resources that allow domestic production of key herbal ingredients used in supplements. This has provided the supplement industry a cost advantage and helped to reduce dependence on imports. Brands are leveraging the popularity of traditional medicines to design herbal or Ayurveda-based products catering to local health beliefs and practices.
Evolving demographics, in the form of growing geriatric population and rising health awareness among younger generations, ensure that the demand remains steady in the long run. Favorable government support through initiatives aimed at non-communicable diseases is also encouraging manufacturers to expand their footprint in Asia Pacific. The region promises high returns for companies able to capture this upcoming opportunity.
Europe is expected to be the fastest-growing market for cardiovascular health supplements, with a share of 19% during the forecast period. The growth of the market in Europe is attributed to increasing prevalence of cardiovascular disease in the region.
Geographies covered:
North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East: GCC Countries, Israel, and Rest of Middle East
Africa: South Africa, North Africa, and Central Africa
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